587 Danforth Rd

About this Property

User/Investment Opportunity: Meticulously Maintained Multi-Plex in Desired corner Location. This property boasts an unbeatable location, with a TTC bus stop steps from your doorstep and close proximity to all amenities and downtown, offering immense appeal to tenants. The building features six residential units, comprising four 2-bedroom units and two 1-bedroom units. Each unit benefits from two separate access points, enhancing privacy and convenience. All units are currently occupied by month-to-month tenants, providing immediate income and flexibility for future strategies. Each unit includes a 3-piece washroom. A shared coin laundry facility adds an attractive amenity for residents and an additional income stream for the owner. Equipped with two furnaces with humidifiers (approx. 10 years old), four owned gas hot water tanks, two separate gas meters and separate hydro meters for each unit. Roof is approximately 12 years old. Some units are equipped with portable window air conditioning units. Ample exterior parking and 4-car detached garage. This property presents a compelling investment with an estimated annual gross income of $100,414.80 and an estimated annual expense of $27,553.00, with and estimated Net Operating Income (NOI) of 72,861.80.

Listing Details

MLS #

E13216158

Board

PROPTX

Market

ontario

Property Type

Multiplex

Style

2-Storey

Garage

Detached

Garage Spaces

4

Parking Spaces

19

Basement

Apartment

Heating

Forced Air

Cooling

None

Pool

None

Lot Size

107.13 × 130 ft

Annual Taxes

$9,275/yr

Listed By

CBRE LIMITED

Listed On

May 29, 2026

Features & Extras